Whole Foods Market (WFM, quote), which was a top stock pick on Jim Cramer’s Mad Money last week, is scheduled to report its fiscal first-quarter results Wednesday, February 12, after the markets close.
Looks like the markets just about managed to avoid a mauling by the bears, who have now temporarily retreated to lick their wounds!
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The first FOMC meeting this week is an historic one for many reasons. First it is the last time Ben Bernanke will chair the meeting. Second, for the first time in the FED’s history the Chair will be held by a woman, and third with several new members the voting pattern will be scrutinised very closely by the markets.
In writing any market analysis, I am always conscious of two things. First, it is very easy to forget that the associated buying and selling in any market embraces the full spectrum, from long term investor, to the short term speculator.
GBP/JPY has made a stellar rally in the past few trading days, thanks to improved fundamentals in the UK.
The warning flags of potential short term weakness have been flying for some time on the Dow Jones cash index, and the associated derivative E-mini YM futures contract.
Brent crude oil (BNO,quote) gained momentum on Wednesday as growth in industrialized countries became more likely. The commodity traded at $107.10 at 6:30 GMT on Wednesday morning.
‘Wind down’ is not withdrawal but watch negative news flow in the US; treading water is not growth so keep the champagne on ice for Europe; price is not value so beware investor sentiment; falling unemployment is not rising employment so watch the participation rate; and a hiccup is not a correction so keep an eye on an exit…
EUR/USD’s recent selloff might soon be over, as the pair formed a double bottom on its 1-hour time frame.
